26
Feb
How Revenue is Spent at the National Equity Fund in Chicago, IL
The National Equity Fund (NEF) is a tax-exempt, non-profit 501 (c) 4 engaged as a national syndicator of low-income housing tax credits. According to the NE website, they “revitalize communities, empower individuals, and create economic opportunities nationwide.” What they don’t write about on their website is that most revenue goes to compensate employees and that only about 20% of revenue is used for grants. It is also important to note NEF is an affiliate of Local Initiatives Support Corporation – a tax-exempt non-profit 501 (c) 3 based in New York City, NY and who also happens to be the recipient of nearly all the grant money awarded in 2018. Read on. Read more 
Paddock Post 